Tractor Insurance
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JethroB
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Will it be used commercially or for-hire? That’s a game changer for insurance covenrage according to my agent. I have my 2018 54 hp Kubota on a Auto Owners farm policy that covers theft, fire, physical damage (not CYA Kubota insurance) at actual/depreciatEd value including liability on and off the property for about $170/year with a $1k deductible. For hire is a no-no.
Yes for commercial off and on my property
5030
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Mine is about 120 for each tractor, full coverage here and away. It's an ag policy however.
10 $ a month?
5030
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About. All my coverages for all the farm related items are bundled together. I own a lot more than just tractors.
JethroB
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^^^ Who doesn’t?
I have mine on my auto policy. Full coverage for both tractor and pickup runs me 1097 $/year. I don't have my bill right in front of me so can't break it down but that's for full coverage on my pickup, as well as on my tractor. It does not cover any implements, however.
macdoesit
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Mine is covered in my homeowners Ins as long as it does not leave property.
5030
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Maybe I should have clarified that to ag related equipment. All the tractors (I own more than one), all the implements and the barns and even the feed stored on the farm is insured against all perils. Far as vehicles are concerned, in this state they have to be insured or you cannot obtain plates for them. My ag policy also covers the 3 rental properties I own as well. I'm a 'slum' landlord...lol My slums all appraise at over 300 grand each.
Blanket farm?
5030
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Yep. Even my rentals are under it. Vehicles however are on a sperate policy. I insure with Hasting Mutual FYI.
LD1
Epic Contributor
Just what is the coverage on the tractor?
Its it just covered for liability, and vandalism/theft? Or is it covered for accidents like a roll-over or it catches on fire?
And if there is liability coverage.....say you are mowing and throw a rock through the window of a house and it hits someone resulting in $$$$$$ medical bills and/or death?
Its hard to compare just "tractor insurance" and a price. Because there are so many varying forms of coverage.
My "business" liability policy with $2m/$4m coverage that covers landscaper type work with the tractor was ~$600/year and adding the tractor with a stated value of $25k added $177/yr to the policy. That covers the off-property things like theft/vandalism, acts of nature, etc. Basically things beyond my own control. But wont cover equipment damage as a result of my actions. Driving into a lake, rolling down a hill, etc.
Just this year I amended my policy to include digging/excavation as well as added my mini-ex with a stated value also of $25k to my contractors list.
My total policy is now $1100/yr.
So to pay $700+ per year for ONLY tractor coverage seems steep. unless it is also written along with a general liability policy and/or includes the things like self-inflicted equipment damage.
Its it just covered for liability, and vandalism/theft? Or is it covered for accidents like a roll-over or it catches on fire?
And if there is liability coverage.....say you are mowing and throw a rock through the window of a house and it hits someone resulting in $$$$$$ medical bills and/or death?
Its hard to compare just "tractor insurance" and a price. Because there are so many varying forms of coverage.
My "business" liability policy with $2m/$4m coverage that covers landscaper type work with the tractor was ~$600/year and adding the tractor with a stated value of $25k added $177/yr to the policy. That covers the off-property things like theft/vandalism, acts of nature, etc. Basically things beyond my own control. But wont cover equipment damage as a result of my actions. Driving into a lake, rolling down a hill, etc.
Just this year I amended my policy to include digging/excavation as well as added my mini-ex with a stated value also of $25k to my contractors list.
My total policy is now $1100/yr.
So to pay $700+ per year for ONLY tractor coverage seems steep. unless it is also written along with a general liability policy and/or includes the things like self-inflicted equipment damage.
5030
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If you are directing that at me, I said 'all perils'. I have a 1000 deductible and it covers than on and off the farm. Covers everything, no exclusions.
rScotty
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So it mine. No additional cost. I think that the insurance agency views leaving the property as being used for business.
rScotty
LD1
Epic Contributor
No my comment was directed at the OP.
Simply saying "I have a quote for $700/yr for tractor insurance is that good"? is an IMPOSSIBLE question to answer. Too many flavors of insurance.
macdoesit
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My Ins is with Farmers, going to email and find out what exactly is covered on my tractor. Email so I will have the answer in writing.
Randy52
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Lineman North Florida
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To the OP do you have a Farm Bureau or some other ag related insurance company in your state? They are usually a lot better and more reasonable/affordable to deal with on insurance for tractors and farm equipment insurance coverage.
Torvy
Super Member
What the OP needs is a commercial policy, not an AG policy. Once you do work off of your property for hire, the rules change.
